Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
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Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
Russia Buys Quarter of World Yuan Reserves in Shift From Dollar
Natasha Doff
Russia’s central bank dumped $101 billion in U.S. holdings from its huge reserves, shifting into euros and yuan last spring amid a new round of U.S. sanctions.
The central bank moved the equivalent of $44 billion each into the European and Chinese currencies in the second quarter, according to a report published on late Wednesday by the Bank of Russia, which discloses the data with a six-month lag. Another $21 billion was invested in the Japanese yen.
The Chinese currency accounted for 15 percent of total holdings at the last reading, up from 5 percent at the end of the first quarter, according to the report. That puts Russia’s yuan share at about ten times the average for global central banks, with its total holdings of the currency accounting for about a quarter of world reserves in yuan, according to International Monetary Fund data. Morgan Stanley estimated Russia was the main buyer of Chinese bonds last year.
“Russia is making a strategic shift in its reserves towards holding fewer dollars and more assets in other currencies,” said Benn Steil, director of international economics at the Council on Foreign Relations in New York.
The data reveal a dramatic acceleration in a policy Russia has been pursuing for several years of reducing exposure to assets that could be affected by U.S. restrictions. Tough sanctions on major Russian companies in early April hammered the ruble and spurred fears that more restrictions could follow, such as measures to cut Moscow off from global payment systems. Russian holdings of U.S. Treasuries dropped by about $81 billion in May and June, according to U.S. data.
Russia isn’t alone in its bid to reduce reliance on the world’s reserve currency amid increasing attempts by Washington to use economic leverage for geopolitical ends. In a deepening trade war with America, China sold a large portion of its U.S. Treasury holdings last year and officials in Europe put forward proposals to increase the use of the euro in regional transactions.
The central bank data show Russia also cut the share of its reserves held in the U.S. to just 10 percent of the total from 29 percent at the end of March, suggesting some of the remaining dollar assets are now held in other countries. This aligns with data compiled by the U.S. Treasury, which shows an increase in American bond holdings in Belgium and the Cayman Islands last year.
Russia’s reserves are among the 10 largest in the world, totaling $458 billion at the end of June 2018. The data suggest Russia accounted for 90 percent of the inflows into the Chinese bond market in the first half of 2018, analysts at Morgan Stanley wrote in a research note published Thursday.
The shift has reduced the credit quality of Russia’s reserves, with the share of AA-rated assets dropping to 27 percent from 43 percent, according to the central bank report. Yields were higher on the yuan holdings, at 3.2 percent versus 0.35 percent for dollar assets.
“In a purely economic sense, the cost benefits of a massive shift to the the yuan aren’t clear,” said Elina Ribakova, a fellow at the Bruegel think tank in Brussels. “But it makes sense if you take geopolitics into account.”
[color:290f=rgba(0, 0, 0, 0.65098)]https://www.bloomberg.com/news/articles/2019-01-09/russia-boosted-yuan-euro-holdings-as-it-dumped-dollars-in-2018
Natasha Doff
Russia’s central bank dumped $101 billion in U.S. holdings from its huge reserves, shifting into euros and yuan last spring amid a new round of U.S. sanctions.
The central bank moved the equivalent of $44 billion each into the European and Chinese currencies in the second quarter, according to a report published on late Wednesday by the Bank of Russia, which discloses the data with a six-month lag. Another $21 billion was invested in the Japanese yen.
The Chinese currency accounted for 15 percent of total holdings at the last reading, up from 5 percent at the end of the first quarter, according to the report. That puts Russia’s yuan share at about ten times the average for global central banks, with its total holdings of the currency accounting for about a quarter of world reserves in yuan, according to International Monetary Fund data. Morgan Stanley estimated Russia was the main buyer of Chinese bonds last year.
“Russia is making a strategic shift in its reserves towards holding fewer dollars and more assets in other currencies,” said Benn Steil, director of international economics at the Council on Foreign Relations in New York.
The data reveal a dramatic acceleration in a policy Russia has been pursuing for several years of reducing exposure to assets that could be affected by U.S. restrictions. Tough sanctions on major Russian companies in early April hammered the ruble and spurred fears that more restrictions could follow, such as measures to cut Moscow off from global payment systems. Russian holdings of U.S. Treasuries dropped by about $81 billion in May and June, according to U.S. data.
Russia isn’t alone in its bid to reduce reliance on the world’s reserve currency amid increasing attempts by Washington to use economic leverage for geopolitical ends. In a deepening trade war with America, China sold a large portion of its U.S. Treasury holdings last year and officials in Europe put forward proposals to increase the use of the euro in regional transactions.
‘Ditching the Dollar’
“We aren’t ditching the dollar, the dollar is ditching us,” Russian President Vladimir Putin said in November. “The instability of dollar payments is creating a desire for many global economies to find alternative reserve currencies and create settlement systems independent of the dollar. We’re not the only ones doing it, believe me.”The central bank data show Russia also cut the share of its reserves held in the U.S. to just 10 percent of the total from 29 percent at the end of March, suggesting some of the remaining dollar assets are now held in other countries. This aligns with data compiled by the U.S. Treasury, which shows an increase in American bond holdings in Belgium and the Cayman Islands last year.
Russia’s reserves are among the 10 largest in the world, totaling $458 billion at the end of June 2018. The data suggest Russia accounted for 90 percent of the inflows into the Chinese bond market in the first half of 2018, analysts at Morgan Stanley wrote in a research note published Thursday.
The shift has reduced the credit quality of Russia’s reserves, with the share of AA-rated assets dropping to 27 percent from 43 percent, according to the central bank report. Yields were higher on the yuan holdings, at 3.2 percent versus 0.35 percent for dollar assets.
“In a purely economic sense, the cost benefits of a massive shift to the the yuan aren’t clear,” said Elina Ribakova, a fellow at the Bruegel think tank in Brussels. “But it makes sense if you take geopolitics into account.”
[color:290f=rgba(0, 0, 0, 0.65098)]https://www.bloomberg.com/news/articles/2019-01-09/russia-boosted-yuan-euro-holdings-as-it-dumped-dollars-in-2018
Hektorović- Posts : 26373
2018-04-10
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
500 milijardi je pola bilijuna. 1000 bilijuna je trilijun.
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AfD
veber-
Posts : 53509
2014-12-30
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
100 miljardi dolara...gadna para..
Guest- Guest
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
veber wrote:500 milijardi je pola bilijuna. 1000 bilijuna je trilijun.
Ovo po američki... no upravu su...
Hektorović- Posts : 26373
2018-04-10
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
znam, trebao si ostaviti engleski naslov pa bi sve ostalo u kontekstu.Hektorović wrote:veber wrote:500 milijardi je pola bilijuna. 1000 bilijuna je trilijun.
Ovo po američki... no upravu su...
veber-
Posts : 53509
2014-12-30
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
Propade jamerika part 12 365 Engleska ce biti zemlja proleterska. Od sutra. Muhahahahahhahaaa
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But I'm near the end and I just ain't got the time
And I'm wasted and I can't find my way home.
abraham-
Posts : 14669
2014-04-14
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
Russia keeps 32% of its $485bn reserves in euros, as opposed to 22% in USD. Only half of the dollar reserves are US-based, suggesting Russia is moving some of those assets to other jurisdictions.
Hektorović- Posts : 26373
2018-04-10
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
1/7 američkog vojnog proračunapismejker wrote:100 miljardi dolara...gadna para..
1/10 ukupnog proračuna za vojsku, policiju, rezervu, razne agencije bez CIA i DEA
veber-
Posts : 53509
2014-12-30
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
BEIJING, Jan. 10 (Xinhua) -- Trade volume between China and Russia exceeded 100 billion U.S. dollars by mid-December 2018, a record high, the Ministry of Commerce (MOC) announced Thursday.
Sino-Russia trade growth outpaced those between China and its other major trade partners, according to MOC spokesperson Gao Feng, calling 2018 a "genuinely fruitful year" for bilateral economic and trade cooperation.
Hektorović- Posts : 26373
2018-04-10
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
veber wrote:1/7 američkog vojnog proračunapismejker wrote:100 miljardi dolara...gadna para..
1/10 ukupnog proračuna za vojsku, policiju, rezervu, razne agencije bez CIA i DEA
Neće Amerika propasti, no Rusija utire put bez dolara, što je do prije 5-6 godina bilo nezamislivo...
Hektorović- Posts : 26373
2018-04-10
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
zanimljivo da je u opticaju oko 600 milijardi, ako se dobro sjećam i da je 2/3 van us. znači svi koji drže dolare kao rezervu s 400 milijardi financiraju ameriku.
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AfD
veber-
Posts : 53509
2014-12-30
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
to joj nikaj ne vrijedi jer ne koristi vlastitu valutu.Hektorović wrote:veber wrote:1/7 američkog vojnog proračunapismejker wrote:100 miljardi dolara...gadna para..
1/10 ukupnog proračuna za vojsku, policiju, rezervu, razne agencije bez CIA i DEA
Neće Amerika propasti, no Rusija utire put bez dolara, što je do prije 5-6 godina bilo nezamislivo...
znači financira eu i kinu.
rubalj nitko ne želi.
veber-
Posts : 53509
2014-12-30
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
Nista ood BRIC-sa ???? Nista od zajednicke valute sa Indijom, Kinom i Brazilom????? Majko Isusova da su odarsli punoljetni ljudi pusili te bajke. Kila mozga.....
_________________
But I'm near the end and I just ain't got the time
And I'm wasted and I can't find my way home.
abraham-
Posts : 14669
2014-04-14
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
lipo, lipo...pomalo zabijati klinove u angloameričku hegemoniju...koja se i sama već osipa
epikur37- Posts : 45339
2015-08-06
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
budi sretan da su ameri tu, tanko bi srao da su rusi gazde.epikur37 wrote:lipo, lipo...pomalo zabijati klinove u angloameričku hegemoniju...koja se i sama već osipa
a kao dokazani rusofil, naklonik rusiji i ljubitelj rada i djela putinova. što u kući imaš rusko?
nemaš ni onu kramu od lade. slabo ti potpomažeš rusko gospodarstvo.
veber-
Posts : 53509
2014-12-30
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
veber wrote:budi sretan da su ameri tu, tanko bi srao da su rusi gazde.epikur37 wrote:lipo, lipo...pomalo zabijati klinove u angloameričku hegemoniju...koja se i sama već osipa
a kao dokazani rusofil, naklonik rusiji i ljubitelj rada i djela putinova. što u kući imaš rusko?
nemaš ni onu kramu od lade. slabo ti potpomažeš rusko gospodarstvo.
Grije se na Ruski plin, auto mu ide na Rusku naftu :D
Masovnost Beko frižidera i šporeta ne znače i supersila status Turske :D
Hektorović- Posts : 26373
2018-04-10
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
Znači, sankcije djeluju. Amerikanci će dodatno pritegnuti, nema druge.
Guest- Guest
Re: Rusija pola trilijuna dolara rezervi pretvara u Yuan i Euro
grije se na talijanski plin i auto mu ide na saudijsku naftu.Hektorović wrote:veber wrote:budi sretan da su ameri tu, tanko bi srao da su rusi gazde.epikur37 wrote:lipo, lipo...pomalo zabijati klinove u angloameričku hegemoniju...koja se i sama već osipa
a kao dokazani rusofil, naklonik rusiji i ljubitelj rada i djela putinova. što u kući imaš rusko?
nemaš ni onu kramu od lade. slabo ti potpomažeš rusko gospodarstvo.
Grije se na Ruski plin, auto mu ide na Rusku naftu :D
Masovnost Beko frižidera i šporeta ne znače i supersila status Turske :D
nije stvar u super sili već u tehnologiji.
jel netko ima u kući neki iređaj made in rusia, čak sssr?
veber-
Posts : 53509
2014-12-30
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